DayStar’s new investors include local connection

DayStar Technologies Inc. today revealed its new investors in a filing with the Securities and Exchange Commission.

Back in May, an offshore hedge fund called Castlerigg Master Investments Ltd. gave DayStar $15 million in exchange for a senior convertible note. DayStar repaid the note in cash or stock and also gave the fund warrants to purchase additional stock.

Last week DayStar announced that it had gotten a new investor to take on the debt, but it didn’t reveal the name.

DayStar, which makes solar cells in Halfmoon, also didn’t reveal another group of investors that agreed to buy $5 million in stock.

Well, the new noteholder is a company called LC Capital Master Fund Ltd.

The new stock investors are Millennium Partners LP, Phoenix Partners LP, Phoenix Partners II LP, Phoenix International Ltd., all of New York City, and PreX Capital Partners LLC of Rotterdam.

SEC filings say that PreX’s managing member is a man named Michael Dura, who is listed as a member of the board of directors of Evident Technologies in Troy.

Dura is also a director and vice chairman at Tejas Inc. of Austin, Texas. Tejas is the parent company of Tejas Securities Group Inc., an Austin investment bank that DayStar hired last November to help it seek additional capital.

DayStar needs $30 million for a full-scale manufacturing facility it wants to build in Malta.